| GEO Business|
| Prominent decline in furniture sale due to price hike|
| Updated at: 1857 PST, Thursday, September 25, 2008|
KARACHI: Due to increasing price hike, there has been a remarkable decline seen in the sale of furniture in the city due to which economic hardships of some 100,000 families associated with the furniture industry have been increased.
The Market Alliance Association chief Ateeq Mir told Geo News that the furniture industry remained under pressure during the past four years and in the current year from January todate, there has been a 50 per cent rise in the prices of furniture owing to which sale of furniture has almost been stopped.
He said that people were purchasing less furniture for marriages while its sale for daily usage has almost stopped.
He told that the prices of raw material have been increased to a great extent in which wood price went up by 300 per cent while price of steel has been increased by 50 per cent and prices of chip board, glass, foam, plywood and hardware have been increased by 30 per cent.
Ateeq Mir told that there are 32 furniture markets in the metropolis and some 100,000 people are working at 5,000 shops.
He told that the decline in the sale of furniture was affecting the employment of these people.